EURO - Price can exit from wedge and continue move up to $1.0745Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A not long time ago price entered to wedge, where it first broke $1.0785 resistance level, which coincided with resistance area.
Then EUR fell to support line and at once made strong upward impulse, breaking $1.0785 level one more time.
Later it reached resistance line of wedge, turned around, and made downward impulse to support line, breaking $1.0785 level.
Next, Euro started to trades near $1.0625 support level, which coincided with support area and even made fake breakout.
After this, EUR bounced up to resistance line of wedge, which at the moment continues to trades near.
Possibly, Euro can break resistance line, thereby exiting from wedge and continuing to rise to $1.0745
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Supprotandresistance
Understanding Market Structure In 5 MinutesThis video goes into depth on the types of market structures and how they happen. Ranging -> Breakout (Spike) -> Channel (trend or a ranging trend) -> Climax. The market moves in these repeatable patterns over and over and over again. If you can diagnose where we are in these cycles then you can harness this skill to improve your trading.
KR a food sector leader for a safe modest trade LONGKR in early August rose from its usual range into a head and shoulders from which
it trended down into its present lower base. I see this as a good setup for a long
trade to reach to and possibly beyond the mid Fibonacci retracement levels also
confluent with horizontal R/S lines drawn from the pivots to the left. I will take
the very safe long trade taking partials at the levels above as drawn onto the chart
with 30% at the 1st and 2nd partials and 20% for the 3rd and last. I will also
take a trade in some call options. If you would like my idea of the best calls
in my opinion, please leave a comment.
gbpusd bearish market analysisIf we look at Weekly charts it's shows that price on a strong bearish trend no reversal point till now so we need to look for sell Positions and last week market already rejected from moving upwards. Which indicate that we still in bearish market Look for psychological level to short market.....
Happy trading 🕺🌈💯
XAUUSD ! Gold is expected to continue in the short term, Gold has broken the resistance level of 1655 and has a bullish form, and the growth can continue up to the level of 1688. If the gold gets rejection at 1688 level and shows bearish form, it will be a short trade, so wait if you enter short trade.
BULLS GET READY! BTC Primed for a RALLY!!!!!!Bitcoin has been lately testing the waters and Bitcoin made huge moves in downward direction that changed market sentiment from Bullish to bearish for Crypto.
MAJORITY are expecting a Drop to 30k. And that is what doesn't happen very often.
After what BTC did today, BTC has printed so many GREAT BULLISH SIGNS that i am pretty Confident that BTC has BOTTOMED OUT for Short to MID TERM and is looking to rally hard from this 40k ZONE.
But, What Exactly did BTC DID TODAY ?
1) BTC just Printed a DRAGONFLY DOJI Candlestick on DAILY Timeframe with HUGE VOLUME on Support Zone:-
2) BTC forming a beautiful falling wedge :-
3) Bouncing from Support Zone :-
4) BTC Making a DOUBLE BOTTOM with a massive bullish divergence :-
5) Monthly Timeframe Strong Bullish Divergence on BTC :-
Overall, Market Overreacted to Changes introduced by FED. Thus BTC Dumped on Sudden fear of increase in interest rates or increase in 10 Year Bond Yields but i do believe FED wouldn't want to crash the market.
Thus, for precaution sake, INVALIDATION point for this POST is $39570:
and My Target for BTC are for SHORT to MID Term :-
This is not a financial advice. This is just an educational idea and my own view and my own reasons due to which i have opened long positions from here for SHORT Term.
One more reason, i have gone long on BTC now is that It is a very low risk to Go long with Small Positions right now due to which i am willing to do so.
Enjoy everyone, and Trade Safely.
EUR/GBP Long ideaMy very first analysis being made public. This is my view on EUR/GBP.
We can see the price is not breaking below the 0.8550- 0.8520 zone which is also in line with the previous high before the most recent impulse up. Together with FIB levels this makes a very strong confluence area which is why I feel this trade has very high chance to success and attractive.
What are your view on this pair.